The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-01-25
THOSE MISSING SECURITIES.
President Shaw Receivers Nearly a Million
Dollars Worth of Hooking Valley Bonds.

New YORK, Jan. 2A-The Herald this morn-
ing says that all interested in the Columbus,
Hooking Valley & Toledo railroad will be happy
to know that the company is $946. 900 richer than
they supposed. President John Shaw, who went
West last Wednesday to look for 1921 900 of
securities missing from the company's treasury,
not only found them, but 1925, 900 more; and he
induced or compelled the executive officer in
whose possession they were found, to surrender
them Internationally. Not only this, but Pres-
dent Shaw comes back with well-fxed idea
that money may be found yet, and perhaps he
will take another trip. "Al l care to say is
this said Mr.. Shaw, 81 have recovered posses
sion of $946, 600 of the c0mpanyS bonds. They
were in the hands of eXJudge Stevenson Burke |
who was in the last board of directors and vice.
president of the company. spent two days in
Columbus at the Offices of the company, and then
/ spent two at Cleveland which is the head
quarters of Judge Burke and his associates At
Columbus got all the information l required.
and at Cleveland, after active negotiations. got
the bonds"
How did Judge Burke explain his possession
Of theml'
He said they were turned over to hin, mr.
pay ment for certain coal lands that were sold by
him to the Hooking Valley Coal Company. This
company sold them to the Columbus, Hooking
Valley & Toledo Railroad Company at the enor
nous price of $8000000. l 90 not care to go
into particulars, but Judge Burke was convinced
by me that he could not hold the bonds under
this claim, and so he gracefully surrendered
them"
The coal lands that were transferred to the
| railroad company for $S 900 cost the Coal
Company less than $1,000, 600, all told, and had
| there not been settlement it IS probable that
criminal proceedings would have been begun
| against the directors who personally profted by
| the transaction.
A Few Emphatic Remarks by Judge Burke.
| CLEVELAND, O., JAN "a Judge Stevenson
Burke was seen this evening in reference to a
dispatch sent from New YORK to-day regarding
the affairs Of the Hooking Valley Railroad Com
| pany. Judge Burke said: II can only say
what have several times before said, that there
| is no truth whatever in any of these reports l
| cannot even understand the motive which
prompts such publlca tons.
| 1.-THE statement that Shaw recovered from me
| 1916, GOO is false. and the intimat on that any
thing was concealed by me. Or that anything was
wronsfnlly IN my hands or wro ngfnlly with
held by me- is false. The intmaton that there
was dollar of the company's property in my
hands, or withheld by me in any wrongful, i'm
proper or fraudulent manner, is cruelty ana
wickedlv false, and known to be SO bv the man
that caused the publication"
Judge Burke reviewed his connection with the
road at length, and concluded as follows:
tine sixty bonds that figure in the dis
patch were all paid for by me long before. For
| ty-four thousand dollars of the amount was paid
to the railway company the dav the bonds were
sold, and the residue applied upon the notes of
the company then held by me- The 1000
preferred stock lay in an envelope in my safe.
l never claimed to own it, and L handed
it to Mr. Shaw simply because ne was
the president of the company, and as prop
erty l made no claim to- There was
no rescue in all this, and should add that, from
from first to last, / acted in strict accordance
with the resolutions of the boards of directors.
to the claim that the Coal Company's stock
coal lands were sold to the railroad at too
high a price, can only say that the directors
who purchased the lands and coal stock were
owners of the entire stock Of the railway com
pany. Not one dollar was owned BY any other
person. and If they made a bad trade, they alone
, had to stand the loss 1t concerned them only
and not the present owners, who purchased the
stock for few cents on the dollar